N.O. gets kudos for economic recovery - FOX 8 WVUE New Orleans News, Weather, Sports

N.O. gets kudos for economic recovery

New Orleans, La. -

Forbes magazine calls Louisiana America's new frontier for business opportunity.  The New Orleans metro area is called number one in economic recovery in the country.

The January article sites Louisiana as one of the most attractive states in which to do business across a wide spectrum of both traditional and burgeoning industries.

GM Capital Technology Center moved into Place St. Charles four months ago. Executive Mike DeBoer says more than 60 employees are already on board. 300 will be in place by 2015.

"We picked New Orleans because of several things. There's a large influx of migration of talent and the technology talent is growing," he said.

Michael Hecht of GNO Inc. calls the new infusion of business a Gulf Coast phenomenon. He calls New Orleans the epicenter.

"We now offer better business conditions, lower costs, better incentives and more cooperative state government than anywhere else in the country," he said.

Hecht said the New Orleans region added more tech jobs in the last two years than anywhere else in the country.  "I think what we started to do in 2008 was remove the negatives," he said.

It was 2008 when Governor Jindal pushed through a wave of ethics laws, banning such things as free tickets to sporting events for lawmakers.  The laws even mandate that elected officials disclose how they earn their income.

Hecht sites the developing medical corridor as an important factor for the local economy.

"Birmingham has two-thirds of our population and has produced 50,000 jobs in the medical industry. If we do our job right, we should be able to produce tens of thousands of jobs," Hecht said.

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